ExxonMobil revamps Mozambique LNG project
ExxonMobil eyes a late 2025 investment decision for its redesigned Rovuma LNG project in Mozambique.
West Africa top producers struggle to deliver pre-sold Beans
A harvest shortfall in Ivory Coast and Ghana combined with pre-sold contracts at low prices creates a complex situation for farmers.
Mali forecasts 12.1% surge in grain output for 2024/25 season
Mali’s agricultural calendar spans from April to April
Egypt’s currency weakens, reserves strengthen with investments
Facing a foreign reserves crisis, Egypt implemented a devaluation strategy and secured an IMF deal.
Zimbabwe’s gold-backed currency debuts
In anticipation of ZiG’s introduction, authorities cracked down on illegal foreign currency trading, accusing dealers of exploiting the new currency’s exchange rates against the greenback
Morocco upgrades airport with $178M for increased capacity
Morocco is investing $176 million to expand Marrakech Menara Airport’s capacity, allowing it to handle over 11.5 million passengers annually.
Egypt reports 50% drop in Suez Canal revenue amid Red Sea tensions
Suez Canal one of main source of Egypt’s foreign currency
Saudi Arabia: Red Sea resorts remain safe after Houthi attacks
Despite Houthi attacks in Yemen’s Red Sea, Saudi Arabia presses on with tourism development projects.
Dubai to build world’s biggest airport terminal
The emirate unveils plans for a $35 billion mega-terminal at Al Maktoum International, aiming to become the world’s largest and eventually replace the current Dubai International Airport.
UAE readies for energy future, planning new nuclear plant
The United Arab Emirates is preparing for its future energy needs by inviting bids for a new nuclear power plant.
DRC accuses Apple of using conflict minerals in supply chain
Democratic Republic of Congo demands Apple provide details about its supply chain to address concerns over the use of conflict minerals.
Algeria signs $3.5B deal with Qatar’s top dairy producer Baladna
Algeria, home to nearly 45 million inhabitants, has grappled with recurring milk shortages in recent years
Egypt ups tourism with free zone, port revamp
The government has approved the development of a special free zone and international tourist port, backed by a $35 billion investment deal with the UAE.
US oil drop lifts prices, tightens market
Oil prices rise on positive US inventory data indicating tightening markets and strong demand ahead of the summer driving season.
Nigeria’s Central Bank sells $15.83M to exchange bureaus
The central bank distributed $10,000 each to 1,583 currency exchange operators at a rate of 1,021 naira per dollar
World Bank cites human rights, Tanzania loses tourism funding
The World Bank suspended funding for a Tanzanian tourism project due to allegations of forced evictions and rights abuses against communities near a national park.
Egypt gets IMF loan boost, commits to reforms
Despite approving a loan increase, the IMF expresses concerns about Egypt’s central bank lending and calls for stricter public spending controls.
Nigeria steps up efforts to ease dollar shortage via bureaus
To address dollar shortages, Nigeria’s central bank is selling dollars to exchange bureaus at a more favorable rate.
Morocco soars as farms to jets in economic shift
Morocco seeks to become an aviation hub, leveraging its affordable workforce to attract manufacturers like Boeing and Airbus while aiming to expand its domestic airline industry.
Ghana finance minister anticipates draft MoU from creditors
Ghana Finance Minister anticipates a draft MoU from creditors for $5.4B loan restructuring, a crucial step in the country’s quest for debt relief.
Stability forecasted for Angola’s Kwanza amid CB’s caution
Angola’s Central Bank anticipates relative stability for the kwanza despite fuel price challenges, with Governor Manuel Tiago Dias warning of inflation impact from subsidy changes.
Ugandan businesses reopen after four-day tax protest
The strike, initiated by the Federation of Uganda Traders Association on Tuesday in Kampala, quickly spread to various parts of the country
Nigeria plans purchase of 24 fighter jets from Italy
Nigeria’s air force plans acquisition of 24 fighter jets from Leonardo for fleet modernization. Leonardo to supply first six jets by end of the year.
IMF draws attention to Yemen, Sudan suffering
Kristalina Georgieva of the IMF spotlights the suffering in Yemen and Sudan amidst overshadowing global wars, stressing IMF support for all members.
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